| GEO Business|
| Asian markets extend gains|
| Updated at: 1553 PST, Wednesday, October 29, 2008|
TOKYO: Most Asian stock markets rose Wednesday after stunning rally on Wall Street as investors awaited possible interest rate cuts from central banks in the U.S. and Japan. European marketsopened mixed.
Japan's market was by far the best performer: the Nikkei 225index jumped 589.98 points, or 7.7 percent, to 8,211.90 after the dollar rebounded against the yen overnight, easing pressure on exporters.
Hong Kong's Hang Seng Index, up nearly 5 percent in early trading, trimmed its gain to just under 0.9 percent in volatile trade after a spectacular 14.4 percent rise the day before. Australia's S&P/ASX200 climbed 1.3 percent.
As trade opened in Europe, Britain's FTSE 100 index advanced about 5 percent and France's CAC-40 was up more than 6 percent. Germany's DAX, which surged more than 10 percent in Tuesday trade, fell back nearly 2 percent. Russia's RTS index was higher.